The X Factor judge and former Pussycat Dolls singer has reportedly landed a $4.5 million recording contract with Sony Records to release a new album this summer.
"Nicole was the most popular member of the X Factor panel this year and is the real winner in terms of bankability," a source dished. "She is set to sign with Sony and can't wait to get back to her music which took a back seat during X Factor."
The album is due to be her first since her 2011 debut, Killer Love.
The two posted nearly identical images of themselves posing on snowmobiles, enjoying a romantic sunset over a snow-covered landscape.
"What better way to kick off 2014 in God's Country! Praying and snow mobiling! #Everything! #Glorious!" Scherzinger wrote on Instagram.
A short while later, Hamilton added his own comment.
"Great way to enter the year....snowmobiling with Gods view. Truly am blessed to have a great family with me. #onelove."
The pair also spent New Year's Eve together at a party thrown by Alicia Keys and her husband, Swizz Beats.
Scherzinger and Hamilton, who began dating in 2008, split last July over their hectic schedules.
Notable deaths of 2014 [PHOTOS]